Cost of Living in Fountain Hills, AZ

An Overview of Cost of Living in Fountain Hills, AZ

Getting a feel for the cost of living in Fountain Hills is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Fountain Hills is 138, which is 38% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you value affordability in your search for a new place to live, Fountain Hills may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Fountain Hills falls into this category, which may not align with your desire for an affordable place to call home.

When it comes to the cost of living in Fountain Hills, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 100.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Fountain Hills goods and services are 15% more expensive than the national average, leaving you with less money at the end of the month.

Is Fountain Hills Affordable?

Wondering if Fountain Hills is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Fountain Hills, for example, the median home price is 121.2% higher than what folks pay nationally, and monthly rent is 52.2% higher than the usual rates. Plus, income levels matter too, with Fountain Hills boasting a median household income of $87,080, which is 57.4% higher than the national average.

What Factors can Influence the Cost of Living in Fountain Hills?

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Fountain Hills, the groceries index is 2.6% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Fountain Hills, the transportation index stands at 23.9% higher than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Fountain Hills, healthcare costs are 2.4% lower than the national average.

Where is the Data From?

The cost of living in Fountain Hills, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.